25 December 2015
Typical control objectives for wages include the following:
To ensure that employees are only paid for work done. To ensure that wages are only paid to valid employees. To ensure that all wages are authorised To ensure that wages are paid at the correct rates of pay To ensure that wages are correctly calculated. To ensure all wages transactions are correctly recorded in the books of account. To ensure that all payroll deductions are paid over to appropriate third parties (for example, tax authorities)
PF/EPF : Rate applicable and applied, payment to Bank, PF deducted on Salary + DA or not.
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